Daiwa Securities Group Inc. Has $11.84 Million Stake in Snowflake Inc. (NYSE:SNOW)

Daiwa Securities Group Inc. lifted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 186.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,686 shares of the company’s stock after purchasing an additional 49,930 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Snowflake were worth $11,841,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. EPIQ Capital Group LLC raised its position in shares of Snowflake by 8.0% during the fourth quarter. EPIQ Capital Group LLC now owns 2,927 shares of the company’s stock worth $452,000 after purchasing an additional 216 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Snowflake by 2.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,966 shares of the company’s stock worth $13,583,000 after purchasing an additional 2,259 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Snowflake during the fourth quarter worth about $408,000. Personal CFO Solutions LLC acquired a new stake in shares of Snowflake during the fourth quarter worth about $216,000. Finally, Amundi raised its position in shares of Snowflake by 37.9% during the fourth quarter. Amundi now owns 1,047,327 shares of the company’s stock worth $168,651,000 after purchasing an additional 287,729 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SNOW. Bank of America raised their price target on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Wolfe Research upgraded Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a report on Tuesday, February 18th. Mizuho increased their price objective on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler increased their price objective on Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Monness Crespi & Hardt increased their price objective on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Stock Performance

NYSE:SNOW opened at $147.38 on Tuesday. The stock has a market cap of $48.65 billion, a P/E ratio of -43.47 and a beta of 1.07. The stock has a 50 day simple moving average of $173.64 and a 200 day simple moving average of $147.31. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

Insider Buying and Selling

In related news, Director Frank Slootman sold 6,714 shares of Snowflake stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the completion of the sale, the director now directly owns 196,454 shares of the company’s stock, valued at approximately $33,593,634. This trade represents a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the sale, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. The trade was a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 294,923 shares of company stock valued at $49,689,983. Insiders own 7.80% of the company’s stock.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.